Budget 2024: Jeremy Hunt announces changes to taxes and child benefits

Jeremy Hunt sought to turn around Conservative electoral fortunes today as he placed tax cuts for workers and parents at the heart of his Budget.

As his centrepiece, the Chancellor announced a 2p cut to the rate of National Insurance paid by employees.

This will save the average worker an estimated £450 a year, rising to £900 when combined with a similar reduction announced last autumn.

The tax cut will be paid for through a mix of tax increases elsewhere, on business class airfares, owners of short-term holiday lets, vapes and tobacco.

However, other taxes have been frozen including fuel duty and alcohol duty, while the threshold at which parents are excluded from receiving child benefit has been raised.

New “British ISAs” are also to provide an extra £5,000 tax-free allowance for savings invested in UK firms.

Meanwhile embattled landlords received a boost with news that the higher rate of capital gains tax is to be cut from 28pc to 24pc on residential property.

#budget #hunt #nhs

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[janetharris]

If he doesn't up the tax threshold then more pensioners will pay tax he's doing nothing for them only taking more money in tax when they have already worked all their life paying tax now paying more .

[mchaplin]

the 2p tax on ni only means we pay it back on income tax as he refuses to increase the threasholds, so we are actually worse off-hunt the great grifter

[myrtleesther]

Up the tax threshold to help those on lower income.

[aleccap]

What about pensions not being an income but retirement after 50 years ? Scrap the tv licence

[canalboating]

nothing in it at all for pensioners and the nhs needs a thorough overhaul not computers no doubt jezza or rishi have ever tried to get a nhs gp appointment

[bobnoxious]

No mention of taxing the mega corporations

[nickglanville]

Load of baloney 150k gets 750
15 k gets 49
Where is the fairness if it was the other way round that might do some good if he thinks people on lower wages will vote for them he needs his head looking at

[arklight]

Labour must be livid. When they win I would like to see if they reverse any of these plans.

[daveroe]

What are they not telling us. VAT Still the same? What are they increasing they never tell us that

[ROBBOSTER]

Digital transformation of the NHS! 😂😂 we know exactly what he means by that😏 straight up doublespeak

[ianhawdon]

Digitally telling us i have to wait anothet 2 years for my shoulder op cheers aresehole

[anoshya]

I hope Hunts finances are helped..isn’t he worth over £20, 000, 000

[allanward]

These people poisoned there own people, don't forget.

[stephenturner]

Nothing for pensioners at all, they sit there looking clever but have failed their most important voters, deserve what is coming to them

[Caesar-el]

Dont matte what they promise there toast all pretty much a wasted effort

[wulfsorenson]

Not one scrap thrown to the people. This is the final straw - vote Reform. So no tax for his non dom donors? Like Sunak’s wife’s family 😂

[LT.]

Cutting the defence budget in a time like this, disgrace.

[Lorraine-pr]

Cannot even hear, is the speaker not there?

[grenvallion]

Everyone will just increase prices anyway so it won't matter regardless.

[Handler]

Ill vote for the Government that Abolishes IR35